Shares of DryShips (NASDAQ: DRYS) are up 12% mid-day after the company earlier said it has taken delivery of its previously announced 205,123 DWT Newcastlemax drybulk vessel. The vessel, which is the second for the owner of ocean-going cargo vessels, was built in 2013. Per a previous agreement, the vessel will be employed under a time charter contract with a major coal and steel trader for a gross rate linked to the new Baltic Capesize Index (BCI5TC) plus 20%.

The company is a diversified owner of ocean going cargo vessels that operate worldwide. The company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels, 2 of which are expected to be delivered in the third quarter of 2017; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers, 3 of which are expected to be delivered in September, October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels. For more information, visit the company’s website at www.dryships.com.

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